SBI Okasan Asset Management Co.Ltd. Acquires New Shares in McCormick & Company, Incorporated $MKC

SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 12,000 shares of the company’s stock, valued at approximately $830,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rafferty Asset Management LLC raised its stake in shares of McCormick & Company, Incorporated by 0.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after purchasing an additional 157 shares during the period. Ransom Advisory Ltd raised its stake in shares of McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock valued at $315,000 after purchasing an additional 160 shares during the period. First Affirmative Financial Network raised its stake in shares of McCormick & Company, Incorporated by 3.0% during the 3rd quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock valued at $418,000 after purchasing an additional 181 shares during the period. Modern Wealth Management LLC raised its stake in shares of McCormick & Company, Incorporated by 5.9% during the 2nd quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after purchasing an additional 181 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of McCormick & Company, Incorporated by 1.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 15,653 shares of the company’s stock valued at $1,066,000 after purchasing an additional 184 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 1.3%

Shares of NYSE MKC opened at $47.46 on Friday. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $12.75 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 2.30 and a beta of 0.68. The business has a 50-day moving average of $50.12 and a 200-day moving average of $60.54.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.McCormick & Company, Incorporated’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio is 31.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HSBC decreased their target price on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Zacks Research raised McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. Barclays cut their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, UBS Group cut their price objective on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $64.27.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley acquired 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the transaction, the director owned 2,906 shares of the company’s stock, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.